South Africa’s Largest Bank Backs Invoice Scanning Startup
Automated value added tax reclaims company WAY2VAT raised $5 million
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The company lists as investors the Standard Bank of South Africa Ltd., and Poalim Ventures Ltd., the investment arm of Israel's largest bank, Bank Hapoalim. Moneta Seeds, the early stage investment arm of venture capital firm Moneta Venture Capital, is also listed as an investor.
Established in 2015 by CEO Amos Simantov, WAY2VAT offers organizational customers the option to scan invoices and report them in real time while traveling. The company employs dozens of people and plans to double its employee number soon, focusing on research and development in Israel and marketing and sales in London and New-York.